CSR
An Overview of Our Progress and Achievements in Corporate Social Responsibility
This is an article reproduced from Web Dentsu-ho

CONNECTING WITH THE MASS AFFLUENT

Part IV: What Are the Key Points for Consumption among Affluent Women?
The Keyword is "Individualized Attention."

In Part I, we presented insights into affluent women, based on five types; in Parts II and III, we explored how to connect with and motivate such women. The response we've received to this research from various companies and groups in a range of industries reveals the high degree of interest in the affluent segment, and the potential business opportunities.

In this final installment of the series, we present a panel discussion involving Hearst Fujingaho's Hisashi Kasahara, and Dentsu's Hiroshi Shimada and Masashi Koyama. The panel reviews the activities of the affluent segment project, and talks about future prospects.

Part IV: What Are the Key Points for Consumption among Affluent Women? The Keyword is Individualized Attention.

From left: Dentsu's Shimada, Hearst Fujingaho's Kasahara, Dentsu's Koyama

The growth and potential of business aimed at the wealthy

Koyama:

Together with Hearst Fujingaho, Dentsu started conducting this survey of the affluent segment of society last year. We have had a flood of inquiries regarding articles published in Dentsu-ho, indicating strong interest in the wealthy.

Kasahara:

Following the release of the survey results, Hearst Fujingaho received inquiries from advertisers and business partners, as well as from many companies with which we had not previously had any connection. We were surprised at the breadth of the response, from companies dealing in everything from luxury goods to everyday products.

Along with luxury brands, we received inquiries from financial and credit card companies, high-end car dealers, cosmetics firms and travel agencies, as well as from such unexpected places as food manufacturers, electronics companies, musical instrument makers, e-commerce companies and NPOs engaged in charitable activities.

Koyama:

What sort of inquiries did you receive, specifically?

Kasahara:

Along with requests for more details regarding the survey, we received inquiries from several companies that had absolutely no connection with society's affluent members, saying that they wanted to approach wealthy customers, but had no idea where to begin.

Koyama:

We had inquiries from educational facilities, private nursery schools, as well as the sort of unexpected companies you mentioned. Even businesses in which it's not immediately obvious how they would connect with the affluent segment, we were able to talk to them and discovered potential business opportunities.
When it comes to the wealthy, people inevitably tend to think of them as living a sort of god-like existence. However, from the information revealed by this survey, gathered by Hearst Fujingaho, and derived from having spoken with various people in the course of conducting this project, we've found that affluent women do not consume things they do not consider to have value.
In essence, the key is how to create value that resonates with these women, which is, in fact, not particularly different from the approach one would take regarding ordinary consumers. That said, the value is different from that which appeals to ordinary people and, as we've reported previously, there are also slight differences in the way the affluent use money, reflecting each of the five basic types of individual. We've presented this information in Part I, but to quickly review the five types:

Part IV: What Are the Key Points for Consumption among Affluent Women? The Keyword is Individualized Attention.

  1. The modest, traditional Japanese woman type — She believes that the assets she has inherited should be protected, rather than used, and will use money for things she considers to be truly necessary.

  2. The all-out, enjoy-life-to-the-fullest type — She devotes herself completely to her career and private life, enjoying life to the fullest. This type of woman has a great interest in charities and contributing to society.

  3. The gentle sheltered type — She is a socialite wife who is happy being protected by her high-earning husband. At the same time, feeling uneasy about the future and growing old, she tends to be interested in spending money to maintain and enhance her status as the "beautiful wife."

  4. The glitzy, fashionista type — Shining is important to her, and she prefers self-assured men. She has a strong desire to be seen as elegant, and uses money on such things as luxury brands and pets.

  5. The unaware hidden type — She is indifferent to her wealth. Her parents have money, but she has been raised in a conventional way, so among the members of these five groups, she has a sense of money that is most similar to that of ordinary women. While she generally will not own high-end brand goods, she might have a luxury bag or other item she has received as a present from a family member.

Based on this analysis, I believe there are examples of companies with ideas to offer value.

Shimada:

Yes. We had a request from a housing manufacturer that wanted to show model homes to wealthy customers, and we developed ideas based on advice from Ms. Sogo, the editor-in-chief of 25ans. For example, usually potential buyers take their shoes off in a model house, and so ensuring that wealthy clients also take their shoes off is important. Instead of the slippers that we generally provide, we arranged to have special slippers just for these visitors. We also hired a private car for transportation rather than a taxi, and served food prepared by a chef from a Michelin starred restaurant. The proposal focused on the hospitality offered the target audience, which really pleased the potential customers.

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